Iberia, the Community of Madrid Strengthen Hold on the U.S. Market

The Community of Madrid has become a top tourist destination for American citizens, as reflected in the 2023 data. Last year, nearly one million Americans visited Madrid, a 26.7% increase compared to 2022. Similarly, in the first four months of 2024, more than 300,000 American tourists visited, marking a 33% increase.

This was highlighted today by Mariano de Paco Serrano, the Minister of Culture, Tourism, and Sports, following a meeting in Miami with tour operators and local businesspeople. "We aim to strengthen ties and promote Madrid," he said.

This meeting, which also included Iberia, is part of a promotional and marketing campaign targeting American markets throughout this year. The project includes social media and digital marketing activities, as well as advertising plans in the countries of origin.

Another significant figure shared by De Paco Serrano is that the total expenditure of American travelers in the region exceeded 2 billion euros last year, a 43.1% increase from the previous year. The average spending per trip was over 2,200 euros, an 8.2% increase from 2022, with stays averaging nearly seven days. Additionally, citizens from New York are the most numerous, followed by those from Miami, totaling 300,000 in 2023.

The Iberia Route Between Miami and Madrid Generates 4,000 Jobs

The aviation sector not only enables people to connect with the rest of the world but also makes a significant contribution to job creation and wealth in different countries. According to a study by the consulting firm Trascendent, the Iberia route connecting Miami with Madrid contributes 171 million euros to the GDP of both countries and creates around 4,000 jobs.

Of these jobs, approximately 675 are direct, 995 are indirect, and the remaining 2,200 are induced by the tourism activity generated by the route.

Regarding the contribution to the U.S. national economy, this route offered nearly 390,000 seats between the two cities in 2022, with 82% of passengers traveling for leisure. In 2022, the average expenditure per international tourist visiting the United States was €2,525.

"These data demonstrate the aviation sector's contribution to society and realize our purpose: generating prosperity by connecting people with the world. Aviation connects people, countries, and cultures while enabling business internationalization and generating wealth," explained Beatriz Guillén, Iberia's Global Sales Director.

The Economy Benefits from Air Connectivity

According to data from the Trascendent report, the economy of the countries and the wealth generated are among the most notable aspects of air connectivity.

For instance, the Miami-Madrid route contributes over 85.5 million euros to the development of local suppliers thanks to the tourism activity generated by the route, boosting companies of various sectors and sizes in both Spain and the U.S. Of the total, 55 million euros correspond to the United States, representing 65%, and 30.6 million euros to Spain.

Similarly, foreign trade is another significant aspect of the economic contribution of the Iberia route between Miami and Madrid. In 2022, the airline transported 7,260 tons of goods between the two countries. For Miami, this was crucial for the export of flowers, fruits, and vegetables, among other products.

Furthermore, air connectivity facilitates transnational business. According to Trascendent data, the route enabled nearly 36,000 international business trips in 2022, leading to business deals and attracting foreign direct investment.

Sustainability at the Core of Social Impact

For Iberia, social impact is a fundamental part of its sustainability strategy, which is also focused on increasing operational efficiency and reducing emissions.

The report states that Iberia's operations between Miami and Madrid produce 10% less CO2 than the average for airlines offering these flights. This is mainly due to adopting new technologies, such as replacing the A340 aircraft with A330s, which are 30% to 35% more efficient than their predecessors. Currently, Iberia's entire fleet consists of twin-engine aircraft.

For the upcoming winter season, which starts at the end of October and runs until the end of March, Iberia will offer 14 weekly frequencies, or two daily flights in each direction. Throughout 2024, the Spanish airline will offer over 424,000 seats between Miami and Madrid.